Futures contracts tied to the major U.S. stock indexes were higher Friday morning as investors prepared to end a down week for equities amid concerns the White House could seek a hike to the capital gains tax.
The rebound followed a turbulent session for equities after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.for wealthy Americans. "We expect Congress will pass a scaled back version of this tax increase," wrote Goldman Sachs Chief Economist Jan Hatzius in a note. "We expect Congress will settle on a more modest increase, potentially around 28%."
nntaleb Of course Nassim is right .Real Estate people with great banking relationships rarely pay cap gains. BTW the new crypto banking system emerging will grow quicker if cap gains or regular taxes increase, They'll hodl & borrow against crypto assets. Taxes encourages the asset class
nntaleb So if im super rich i wont cash out my multi billion dollars worth of investment - i will wait 4 years maybe 8, republican will fix this mess.
nntaleb Sounds like Taleb and his pals have nothing to worry about, then! 43.4% it is.
nntaleb CC: SecYellen
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